Chinese firm to invest $17m in Mongla EPZ garment factory

Chinese company Longteng Garment Co Ltd will invest US$17 million to set up a garment factory at Mongla Export Processing Zone (EPZ), creating employment for more than 3,000 Bangladeshis.

The Bangladesh Export Processing Zones Authority (BEPZA) signed a land lease agreement with the company on Monday at its complex in Dhaka to facilitate the investment, according to a press release. Md Tanvir Hossain, member (Investment Promotion) of BEPZA, and Lin Qiangqiang, chairman of Longteng Garment, signed the agreement on behalf of their respective organisations. BEPZA Executive Chairman Maj Gen Mohammad Moazzem Hossain and senior officials witnessed the signing ceremony.

The company will establish its factory on 16,426.37 square metres of land, with an annual production capacity of six million pieces of innerwear. Its products will be supplied to international brands and retailers, including Aerie, Calvin Klein, Zara, Florence & Fred, ASOS and Primark. The company also listed major buyers such as H&M, Walmart, Marks & Spencer and Gap.